Short Interest in Barnes Group Inc. (NYSE:B) Rises By 6.6%

Barnes Group Inc. (NYSE:B - Get Free Report) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 732,500 shares, an increase of 6.6% from the October 15th total of 687,300 shares. Currently, 1.5% of the company's shares are sold short. Based on an average daily volume of 661,000 shares, the days-to-cover ratio is presently 1.1 days.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on B shares. Truist Financial raised their target price on Barnes Group from $38.00 to $47.50 and gave the stock a "hold" rating in a research note on Tuesday, October 8th. DA Davidson reaffirmed a "neutral" rating and issued a $47.50 price target (down from $52.00) on shares of Barnes Group in a research note on Monday, October 7th. Finally, StockNews.com initiated coverage on shares of Barnes Group in a report on Monday. They set a "sell" rating on the stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC grew its position in Barnes Group by 9.3% in the 3rd quarter. Barclays PLC now owns 132,462 shares of the industrial products company's stock worth $5,353,000 after purchasing an additional 11,279 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Barnes Group in the third quarter valued at about $676,000. XTX Topco Ltd purchased a new position in Barnes Group in the third quarter worth about $492,000. Jane Street Group LLC grew its stake in shares of Barnes Group by 22.9% during the 3rd quarter. Jane Street Group LLC now owns 153,917 shares of the industrial products company's stock valued at $6,220,000 after purchasing an additional 28,649 shares during the period. Finally, Systematic Financial Management LP purchased a new stake in shares of Barnes Group during the 3rd quarter valued at about $1,021,000. 90.82% of the stock is owned by institutional investors.

Barnes Group Stock Up 0.1 %

Barnes Group stock traded up $0.07 during mid-day trading on Tuesday, reaching $46.76. The stock had a trading volume of 158,425 shares, compared to its average volume of 431,497. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -60.70, a PEG ratio of 3.21 and a beta of 1.35. The company has a 50-day moving average price of $43.72 and a two-hundred day moving average price of $40.99. Barnes Group has a one year low of $25.75 and a one year high of $47.40. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 1.35.

About Barnes Group

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. The company operates through two segments: Industrial and Aerospace. The Industrial segment offers precision components, products, and systems used by various customers in end-markets, such as mobility, industrial equipment, automation, personal care, packaging, electronics, and medical devices.

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